Significant Insider Trades: Highlighting the Week's Transactions at American Express, RTX, and Kinder Morgan
In the world of corporate finance, recent insider trades by executives at various companies have caught the attention of investors and market observers. These trades, such as Peter Briger Jr., Director at Strategy (NASDAQ:MSTR), purchasing 220,000 shares at $90 each for $19.8 million, are significant as they reflect ongoing use of insider trading mechanisms governed under SEC Rule 10b5-1 plans.
Michael Corbat, Director at Chubb (NYSE:CB), bought 425 shares on July 25 at $269.80 apiece, indicating potential confidence in the company's current discounted state. Amy Chronis, Director at Kinder Morgan (NYSE:KMI), followed suit with a purchase of 2,759 shares at $27.21 each. Meanwhile, William Montgomery, Director at Enterprise Products Partners (NYSE:EPD), acquired 16,000 shares, spending $31.55 per share, suggesting continued faith in the company's reliably strong yields.
However, it's crucial to view these trades in the context of recent regulatory changes. The SEC finalized major 2022 amendments to Rule 10b5-1 aimed at curbing abuses seen in pre-scheduled trading plans. The amendment has resulted in reduced opportunistic trading but also increased compliance burdens, slightly lowering the use of these plans and decreasing stock price efficiency in affected firms.
Enforcement actions in 2025 show that misuse of Rule 10b5-1 plans is taken seriously. For instance, a conviction led to a $17 million fine and prison sentence for abusing such a plan. This highlights that while insider trades under these plans remain legal if compliant, regulators are vigilant against potential abuses.
In other news, Phong Le, President and CEO of Strategy (NASDAQ:MSTR), also picked up 5,500 shares on the same day, paying $90 per share. Strategy provided a 2025 guide in Q2 and announced a $4.2B STRC at-the-market program. The company's Q2 earnings exceeded expectations, aided by the bitcoin rally.
Meanwhile, executives at other companies have made different moves. Michelle Freyre, Director at United Airlines (NASDAQ:UAL), disposed of 900 shares at $92.13 per share, while Callie Field, President, Business Group at T-Mobile (NASDAQ:TMUS), parted with 12,300 shares at an average price of $240.80. Anna Marrs, Group President of GMNS at American Express (NYSE:AXP), sold 5,500 shares for $310.77 per share, and Lewis Steverson, Vice Chairman and EVP at Corning (NYSE:GLW), sold 16,646 shares for $62.22 apiece.
Lastly, Kevin DaSilva, Corporate VP and Treasurer at RTX (NYSE:RTX), sold 8,704 shares at a price of $156.20 per share, and Irwin Simon, CEO of Tilray Brands (NASDAQ:TLRY), made a purchase of 165,000 shares, paying $0.61 apiece.
These insider trades occur in an environment of heightened regulatory scrutiny designed to detect and prevent opportunistic insider trading. Investors and market observers often analyze such trades for insights into executives' confidence in their companies and for potential signals about stock valuation or upcoming corporate developments.
Business executives often use insider trading mechanisms, such as Rule 10b5-1 plans, for investing in their respective companies. For instance, Michael Corbat, Director at Chubb (NYSE:CB), invested in his company by purchasing shares, and Amy Chronis, Director at Kinder Morgan (NYSE:KMI), did the same. However, the SEC has tightened regulations surrounding these plans due to past abuses, as demonstrated by enforcement actions in 2025 that resulted in a $17 million fine and prison sentence for misuse.
